(HTGC) Hercules Capital - Overview

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US4270965084

Stock:

Total Rating 18

Risk 50

Buy Signal -1.10

Asset Management -4.7
Asset Management & Custody Banks -4.4

Market Cap: 2,610m
Avg Trading Vol: 66.3M USD

ATR: 3.53%
Peers RS (IBD): 16.41

Risk 5d forecast
Volatility	48.5%
Relative Tail Risk	5.69%

Reward TTM
Sharpe Ratio	-1.07
Alpha	-38.21

Character TTM
Beta	0.828
Beta Downside	1.153

Drawdowns 3y
Max DD	27.75%
CAGR/Max DD	0.29

EPS (Earnings per Share)

EPS CAGR: 13.35%
EPS Trend: 58.6%

Last SUE: -0.43
Qual. Beats: 0

Revenue

Rev. CAGR: 56.07%
Rev. Trend: 63.4%

Last SUE: 0.29
Qual. Beats: 0

Description: HTGC Hercules Capital

Hercules Capital, Inc. is a business development company. The firm specializing in providing private equity, venture debt, and growth capital to privately held venture capital-backed companies at all stages of development from mid venture to expansion stage including select publicly listed companies and select special opportunity companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies. The firm provides growth capital financing solutions for capital extension; management buy-out and corporate spin-out financing solutions; company, asset specific, or intellectual property acquisition financing; convertible, subordinated and/or mezzanine loans; domestic and international corporate expansion; vendor financing; revenue acceleration by sales and marketing development, and manufacturing expansion. It provides asset-based financing with a focus on cash flow; accounts receivable facilities; equipment loans or leases; equipment acquisition; facilities build-out and/or expansion; working capital revolving lines of credit; inventory. The firm also provides bridge financing to IPO or mergers and acquisitions or technology acquisition; dividend recapitalizations and other sources of investor liquidity; cash flow financing to protect against share price volatility; competitor acquisition; pre-IPO financing for extra cash on the balance sheet; public company financing to continue asset growth and production capacity; short-term bridge financing; and strategic and intellectual property acquisition financings. It also focuses on customized financing solutions, emerging growth, mid venture, and late venture financing. The firm invests primarily in structured debt with warrants and, to a lesser extent, in senior debt and equity investments. The firm generally seeks to invest in companies that have been operating for at least six to 12 months prior to the date of their investment. It prefers to invest in technology, SaaS Finance, energy technology, sustainable

Piotroski VR‑10 (Strict, 0-10) 3.0

Net Income: 339.7m TTM > 0 and > 6% of Revenue
FCF/TA: -0.07 > 0.02 and ΔFCF/TA -12.37 > 1.0
NWC/Revenue: 5.28% < 20% (prev 4.02%; Δ 1.26% < -1%)
CFO/TA -0.07 > 3% & CFO -343.2m > Net Income 339.7m
Net Debt (2.25b) to EBITDA (365.4m): 6.15 < 3
Current Ratio: 1.44 > 1.5 & < 3
Outstanding Shares: last quarter (194.8m) vs 12m ago 17.62% < -2%
Gross Margin: 87.23% > 18% (prev 0.82%; Δ 8641 % > 0.5%)
Asset Turnover: 13.00% > 50% (prev 11.25%; Δ 1.76% > 0%)
Interest Coverage Ratio: 3.96 > 6 (EBITDA TTM 365.4m / Interest Expense TTM 92.2m)

Altman Z'' 0.74

A: 0.01 (Total Current Assets 94.1m - Total Current Liabilities 65.3m) / Total Assets 4.58b
B: 0.02 (Retained Earnings 101.2m / Total Assets 4.58b)
C: 0.09 (EBIT TTM 365.1m / Avg Total Assets 4.21b)
D: 0.04 (Book Value of Equity 101.3m / Total Liabilities 2.37b)
Altman-Z'' Score: 0.74 = B

Beneish M -2.81

DSRI: 0.90 (Receivables 37.3m/32.6m, Revenue 547.1m/430.9m)
GMI: 0.94 (GM 87.23% / 82.10%)
AQI: 1.00 (AQ_t 0.98 / AQ_t-1 0.98)
SGI: 1.27 (Revenue 547.1m / 430.9m)
TATA: 0.15 (NI 339.7m - CFO -343.2m) / TA 4.58b)
Beneish M-Score: -2.81 (Cap -4..+1) = A

What is the price of HTGC shares?

As of March 03, 2026, the stock is trading at USD 14.60 with a total of 5,210,823 shares traded.
Over the past week, the price has changed by -0.13%, over one month by -18.04%, over three months by -18.36% and over the past year by -22.06%.

Is HTGC a buy, sell or hold?

Hercules Capital has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy HTGC.

StrongBuy: 3
Buy: 3
Hold: 3
Sell: 0
StrongSell: 0

What are the forecasts/targets for the HTGC price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	20.3	39.1%
Analysts Target Price	20.3	39.1%

HTGC Fundamental Data Overview March 01, 2026

P/E Trailing = 7.6811
P/E Forward = 8.0972
P/S = 4.9021
P/B = 1.279
P/EG = 0.5218
Revenue TTM = 547.1m USD
EBIT TTM = 365.1m USD
EBITDA TTM = 365.4m USD
Long Term Debt = 2.29b USD (estimated: total debt 2.30b - short term 16.3m)
Short Term Debt = 16.3m USD (from shortTermDebt, last quarter)
Debt = 2.30b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.25b USD (from netDebt column, last quarter)
Enterprise Value = 4.86b USD (2.61b + Debt 2.30b - CCE 56.9m)
Interest Coverage Ratio = 3.96 (Ebit TTM 365.1m / Interest Expense TTM 92.2m)
EV/FCF = -14.15x (Enterprise Value 4.86b / FCF TTM -343.3m)
FCF Yield = -7.07% (FCF TTM -343.3m / Enterprise Value 4.86b)
FCF Margin = -62.75% (FCF TTM -343.3m / Revenue TTM 547.1m)
Net Margin = 62.10% (Net Income TTM 339.7m / Revenue TTM 547.1m)
Gross Margin = 87.23% ((Revenue TTM 547.1m - Cost of Revenue TTM 69.8m) / Revenue TTM)
Gross Margin QoQ = none% (prev 85.71%)
Tobins Q-Ratio = 1.06 (Enterprise Value 4.86b / Total Assets 4.58b)
Interest Expense / Debt = 1.10% (Interest Expense 25.4m / Debt 2.30b)
Taxrate = 21.0% (US default 21%)
NOPAT = 288.4m (EBIT 365.1m * (1 - 21.00%))
Current Ratio = 1.44 (Total Current Assets 94.1m / Total Current Liabilities 65.3m)
Debt / Equity = 1.04 (Debt 2.30b / totalStockholderEquity, last quarter 2.22b)
Debt / EBITDA = 6.15 (Net Debt 2.25b / EBITDA 365.4m)
Debt / FCF = -6.54 (negative FCF - burning cash) (Net Debt 2.25b / FCF TTM -343.3m)
Total Stockholder Equity = 2.14b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.07% (Net Income 339.7m / Total Assets 4.58b)
RoE = 15.88% (Net Income TTM 339.7m / Total Stockholder Equity 2.14b)
RoCE = 8.25% (EBIT 365.1m / Capital Employed (Equity 2.14b + L.T.Debt 2.29b))
RoIC = 6.77% (NOPAT 288.4m / Invested Capital 4.26b)
WACC = 5.17% (E(2.61b)/V(4.91b) * Re(8.97%) + D(2.30b)/V(4.91b) * Rd(1.10%) * (1-Tc(0.21)))
Discount Rate = 8.97% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 11.12%
[DCF] Fair Price = unknown (Cash Flow -343.3m)
EPS Correlation: 58.65 | EPS CAGR: 13.35% | SUE: -0.43 | # QB: 0
Revenue Correlation: 63.39 | Revenue CAGR: 56.07% | SUE: 0.29 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.48 | Chg7d=-0.023 | Chg30d=-0.023 | Revisions Net=-5 | Analysts=8
EPS current Year (2026-12-31): EPS=1.93 | Chg7d=-0.096 | Chg30d=-0.096 | Revisions Net=-6 | Growth EPS=+0.9% | Growth Revenue=+9.2%
EPS next Year (2027-12-31): EPS=1.97 | Chg7d=-0.086 | Chg30d=-0.085 | Revisions Net=-3 | Growth EPS=+2.2% | Growth Revenue=+6.2%
[Analyst] Revisions Ratio: -1.00 (0 Up / 5 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = -4.0% (Discount Rate 9.0% - Earnings Yield 13.0%)
[Growth] Growth Spread = +9.1% (Analyst 5.1% - Implied -4.0%)

Additional Sources for HTGC Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Fund Manager Positions: Dataroma | Stockcircle